Spark Networks Inc. (NYSEMKT:LOV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Spark Networks is a leading provider of online personals in the United States and internationally. Our comprehensive, user-friendly websites offer convenient and safe places for likeminded singles to connect. Many of these connections lead to long term relationships and quite often marriage. “
Separately, B. Riley reaffirmed a “buy” rating and set a $3.00 price target on shares of Spark Networks in a research note on Sunday, August 14th.
Shares of Spark Networks (NYSEMKT:LOV) opened at 1.55 on Wednesday. The company’s market cap is $40.21 million. Spark Networks has a 12-month low of $1.40 and a 12-month high of $4.14. The stock has a 50 day moving average of $1.65 and a 200 day moving average of $1.80.
Spark Networks (NYSEMKT:LOV) last issued its earnings results on Wednesday, August 10th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $9.62 million. Analysts forecast that Spark Networks will post ($0.14) earnings per share for the current year.
In other news, Director Bradley Goldberg bought 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was purchased at an average price of $1.93 per share, with a total value of $27,020.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $5,790. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lloyd I. Miller III bought 292,958 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was purchased at an average cost of $1.55 per share, with a total value of $454,084.90. Following the purchase, the insider now directly owns 787,542 shares in the company, valued at approximately $1,220,690.10. The disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in shares of Spark Networks by 15.2% in the first quarter. Renaissance Technologies LLC now owns 184,600 shares of the company’s stock valued at $410,000 after buying an additional 24,400 shares during the last quarter. Robotti Robert increased its position in shares of Spark Networks by 2.8% in the second quarter. Robotti Robert now owns 320,600 shares of the company’s stock valued at $507,000 after buying an additional 8,750 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Spark Networks during the first quarter valued at $651,000. Finally, Financial & Investment Management Group Ltd. increased its position in shares of Spark Networks by 33.1% in the second quarter. Financial & Investment Management Group Ltd. now owns 459,077 shares of the company’s stock valued at $725,000 after buying an additional 114,110 shares during the last quarter.
Spark Networks Company Profile
Spark Networks, Inc is engaged in creating brands and communities that help individuals form life-long relationships with others that share their interests and values. The Company operates through four segments, such as Jewish Networks, which consists of JDate, JDate.co.uk, JDate.fr, JDate.co.il, Cupid.co.il and JSwipe; Christian Networks, which consists of ChristianMingle, CrossPaths, ChristianMingle.co.uk, ChristianMingle.com.au, Believe.com, ChristianCards.net, DailyBibleVerse.com and Faith.com; Other Networks, which consists of Spark.com and related other general market Websites, as well as other properties, which primarily consists of sites focused towards various religious, ethnic, geographic and special interest groups, and Offline & Other Businesses segment, which consists of revenue generated from offline activities.
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